Numo recently launched!

Launch YC: Numo — Offshore banking & instant payments for global contractors

"The easiest way to get verified and earn USD around the globe"

Meet Numo, filling the trust gap between businesses and international contractors by handling compliance, KYC, and payment. It makes it easy for freelancers to get paid globally.


Founded by
Derrick Wolbert, Reuben Balik, & Q Carlson


Numo is like upside-down Deel

TL;DR

Numo verifies and credentials global contractors and lets them earn and hold the USD they get from working for American companies. When they need to spend it, they transfer money instantly to their local bank account.

Numo GIF


Problem

Paying international contractors for short-term engagements is messy. It’s full of remittance services whose brands are not conducive to trust or a professional environment and often look fraudulent to the uninformed.

For contractors, it’s even messier. With expensive fees, slow transfer times, and fuzzy tax + compliance rules — customers resort to funneling money through friends and families just to get paid.

And the death blow for contractors is the hyperinflation many of their home currencies are experiencing. Contractors work more every day for less money. International contractors want to hold their funds in USD as long as they can, and then bring it back only when they need to spend.

Image Credits: Numo

Solution

So they built Numo:

1. Contractors can onboard and get verified, background checked, and launch their profiles.

Image Credits: Numo

2. Every invoice they send via Numo to their clients is paired with their verified profile.

Image Credits: Numo

3. Their American clients get to pay the way they are most comfortable: ACH payment to a US bank account.

Image Credits: Numo

4. Contractors can hold the USD they make stateside until the moment they need to spend it locally. They can transfer funds to their local account within 20 seconds without excessive fees.

Image Credits: Numo


Learn More

🌐 Visit numohq.com to learn more

🌍 Using international contractors for your business? Ask them to invoice with
Numo!

👥 Follow
Numo on LinkedIn & X
Posted 
October 11, 2024
 in 
Launch
 category
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